Shares of Sundance Resources pulled from trading pending announcement of Hanlong’s takeover bid

Shares of Sundance Resources have been suspended from trading in anticipation of Hanlong Mining Investment’s forthcoming USD 0.45-per-share bid for the company’s stock. The offer was expected to be announced on Tuesday.

Hanlong lowered its original USD 0.57-per-share offer in August after China’s National Development and Reform Commission granted provisional approval for the transaction on the condition that Hanlong pay a reasonable price for the company.